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Mortgage Giant Overstated the Size of Its Capital Base

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Amanda Lang

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US govt to announce takeover of Freddie Mac & Fannie Mae after advisers poring over the concluded that Freddie's accounting methods had overstated its capital cushion causing deep concern among foreign investors that the companies' debt might not be repaid. Falling home prices, which are expected to lead to more defaults among the mortgages held or guaranteed by Fannie and Freddie, contributed to the urgency.

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OpedNews volunteer from 2005 to 2013.

Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.

Related Topic(s): Capitalism Failures; Capitalism Over Humanity; Credit Crisis; Crisis In Confidence; Declaration Of Crisis; Default; Fannie Mae; Freddie Mac; Housing Crisis; Mortgage Crisis; (more...) Treasury Federal Reserve; Treasury Federal Reserve Monetary Policy; US Treasury Bankrupt, Add Tags (less...)

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